The National Anti-Money Laundering and Terrorism Financing Secretariat (SENACLAFT) issued the Best Practices Guide for Prevention of Asset Laundering and Terrorism Financing in Nonprofit Organizations on July 31, 2019.
According to SENACLAFT, the features and purpose of such entities makes them vulnerable to being used by criminal organizations for money laundering or terrorism financing activities. For this reason, they have been included on the list of entities subject to Law 19,574 of December 20, 2017 (Law Against Asset Laundering and Terrorism Financing).
The Guide summarizes the legal obligations of these entities and the best international practices for collaborating on implementation of the appropriate policies and procedures on the subject.